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Thailand Surprises With Rate Cut

By

Oranan Paweewun And

Phisanu Phromchanya

Oct. 17, 2012 6:52 a.m. ET

BANGKOK—The Bank of Thailand cut its policy interest rate by a quarter of a percentage point in a surprise move Wednesday, making it the latest Asian central bank to ease policy as weakening demand from the West and China hits the region's export-oriented economies.

The Thai central bank follows its counterparts in South Korea and Australia, which have also cut rates in recent weeks. Analysts said the bank will likely take time to...